Description

A Retrospective Study of the Forecasting Value of Dow’s Theory as Applied to the Daily Movements of the Dow-Jones Industrial and Railroad Stock Averages.

Alanpuri Trading, Los Angeles, 2013, Softcover, Reprint, Exact facsimile of the first edition that was originally published in 1934 Robert Rhea, numerous tables, 195 pp.,

Contents: (from the Introduction) Dow’s Theory Is Not Infallible: Charles H. Dow never intended his theory of price movements to be construed as being a method whereby the royal road to riches could be found. While the principles laid down by him and developed by William Peter Hamilton may assist us in understanding something of security price trends, it would nevertheless be a fallacy to undertake any discussion of the subject without making the point very clear that no dependable method beating the market has yet been discovered. Intelligent observation and study of the ever-recurring formations in the averages which Dow and Hamilton noted can, however, prove invaluable to both investors and speculators. It is hoped that the effort of those who read these pages may be rewarded by finding therein something useful and profitable. — end. 195 pp.